Country Fact Sheet: Estonia
The Republic of Estonia is located in Northeastern Europe bordering Latvia, Russia, the Baltic Sea, and the Gulf of Finland. It is about the size of New Hampshire and Vermont combined and covers an area of 45,226 sq. kilometers. Estonia’s total population is about 1.29 million and is shrinking at a rate of 0.66% with 69% living in urban areas. The Estonian capital of Tallinn has a population of about 397,000 with other major cities including Tartu (102,000), Narva (66,000), and Parnu (44,000). The people are governed by a parliamentary republic and the primary language used is Estonian with about 30% of the population also speaking Russian. Estonia joined both NATO and the EU in 2004. The local currency used is the Euro.
Estonia’s economy has a free market economy that has benefited since joining the EU. It has one of the highest GDP per capita in Eastern Europe and a government dedicated to pursuing pro-market reforms. Its main trade partners are Finland, Sweden, Germany, Russia, Latvia, Lithuania, and Poland. Its primary imports are machinery and equipment, textiles, mineral fuels, chemical products, and foodstuffs. Exports consist of machinery and equipment, wood and paper, metals, food products, textiles, and chemicals products. Estonia’s GDP (Purchasing Power Parity) is $28.44 billion and is growing at a real rate of 2.4% with an inflation rate of 3.3%. Estonia ranked 21 out of 185 countries in the World Bank Group’s Ease of Doing Business Ranking.
|Demographic Data||Economic Data||Cultural & Other Data|
|Area (sq. km.)||20,273||GDP (PPP, $bn)||28.44||Capital||Tallin|
|Population (million)||1.266||GDP Real Growth (%)||2.4||Other Large Cities||Tartu, Navua|
|Population Growth %||-0.66||PerCap GDP ($)||21,200||Primary Language||Estonian|
|% Population Under 15yrs||15.4||Prime Lending Rate (%)||8||Urban Population %||69|
|Population below poverty line (%)||17.5||Inflation Rate%||3.3||Urban Growth %||0.1|
|Agricultural Workers (% of population)||4.2||Unemployment%||11.5||Literacy (% of population)||99.8|
|Industrial Workers (% of population)||20.2||Foreign Direct Investment($bn)||16.76||Education spending as % of GDP||6.1|
|Service Workers (% of population)||75.6||Debt-External ($bn)||25.92||CPI Score (1-100)*||32|
|Labor Force (mil)||675,900||Exports ($bn)||17.38||Corporate Income Tax %||21|
|Imports ($bn)||17.87||Ease of Doing Business Ranking **||21|
Click the links below for articles with more information on Franchising in Estonia
* CPI Score is published by Transparency International and relates to the perceptions of the degree of corruption as seen by business people and country analysts and ranges between 100 (highly clean) and 0 (highly corrupt).
**Ease of Doing Business Ranking is determined by the World Bank Group and is ranked out of a possible 185 countries. www.doingbusiness.org
Most recent statistics have been taken from the CIA World Factbook unless noted otherwise.
International Franchising Opportunities
After you have finished researching the international markets, learning international expansion strategies and best practices, and understanding the basics of international franchising law, IFA provides numerous opportunities for franchising internationally.